| Type | Unsecured Business Loan interest rate and Charges | Unsecured Personal Loan interest rate and Charges |
|---|---|---|
| Interest rate (per annum) | 13.5% to 35% | 16% to 35% |
| Processing Fees (PF in %) | Maximum 3% of the loan amount (exc. GST) | Maximum 3% of the loan amount |
| Cross-sell charges | Capped as part of APR | NA |
| Documentation charges in INR for range of Loan Amounts | Rs. 1200 (inc. GST) | NA |
| Broken Period Interest (BPI) | Scenario 1: If disbursed on 1st ,2nd, or 16th onwards then BPI amount would be part of the instalment. Scenario 2: If disbursed from 3rd to 15th then BPI is 0. First instalment will have partial-month interest on actual number of days |
Scenario 1: If disbursed on 1st ,2nd, or 4th onwards then BPI amount would be part of the instalment. Scenario 2: If disbursed on 3rd then BPI is 0. |
| NACH registration or activation | INR 30/- per registration (inc. GST) | NA |
| Instrument swap charges | INR 500/- (Rupees five hundred only) per swap (inc. GST) | INR 500/- (Rupees five hundred only) per swap. |
| Change in account mapping | INR 500/- (Rupees five hundred only) per request (inc. GST) | INR 500/- (Rupees five hundred only) per request. |
| Foreclosure Charges, if applicable | No foreclosure charges | 5% of principal outstanding |
| Dishonour charges | INR 150/- (Rupees one hundred and fifty only) towards each cheque dishonoured (inc. GST) INR 20/- (Rupees twenty only) towards each dishonour of the ECS/ NACH transaction. (inc. GST) |
INR 150/- (Rupees one hundred and fifty only) towards each cheque dishonoured. INR 20/- (Rupees twenty only) towards each dishonour of the ECS/ NACH transaction. |
| Late payment charges or Penal Charges | 0.1% (zero-point one percent) per day or 36% per annum on the overdue principal and interest amount for the period between the due date till the receipt of the entire overdue amount + Rs 300/- (Rupees three hundred only) for each overdue instalment of loan amount. | 0.1% (zero-point one percent) per day or 36% per annum on the overdue principal and interest amount for the period between the due date till the receipt of the entire overdue amount + Rs 300/- (Rupees three hundred only) for each overdue instalment of loan amount. |
| Legal charges | At actuals. | At actuals. |
| Duplicate No Dues Certificate | NA | NA |
| Signature Verification | INR 10/- (GST not applicable) | NA |
| Cooling-off period* | Up to 2% of the sanction amount (a portion of processing fee) can be retained in case the customer decides to exit the loan in cooling-off period i.e., within 3 days from the day of disbursal | NA |
Please note:
| Type of Charge/Fees | Applicable Charges | GST Application |
|---|---|---|
| Processing Fees | Processing Fees: up to 3% of the Sanctioned Loan Amount | Exclusive |
| Insurance Premium | If opted, as per actuals | As per actuals |
| (i) Penal charges, if any, in case of delayed payment | 0.1% (zero-point one percent) per day or 36% (thirty-six percent) per annum on the overdue EMI (i.e. principal and interest) for the period between the Due Date till the receipt of the entire overdue amount | Exclusive |
| (ii) Foreclosure / Prepayment Charges (applicable on Fixed-rate loan) |
≤ 1 Year: 5% of Principal Outstanding > 1 Year and ≤ 2 Years: 4% of Principal Outstanding > 2 Years and ≤ 3 Years: 3% of Principal Outstanding > 3 Years: 2% of Principal Outstanding |
Exclusive |
| (iii) Part Payment Charges (applicable on Fixed-rate loan) |
25% of outstanding loan (o/s balance) can be paid in a financial year without any prepayment charges. Any prepayment over and above this threshold will attract prepayment charges of 3% of the principal prepaid. | Exclusive |
| (iv) Other Charges (as applicable) | ||
| Login Fees | INR 5,900/- — One-time (non-refundable) | Inclusive |
| Stamp Paper charges on Loan Documents | At Actuals | As per actuals |
| EMI Bounce Charges | INR 1,180/- per instance | Inclusive |
| Repayment Mode Swap Changes | INR 1,180/- per swap per instance | Inclusive |
| EMI/Tenure Change Charges | INR 2,950/- per instance | Inclusive |
| Duplicate Interest Certificate (Provisional/Actual) Issuance Charges | INR 590/- per instance | Inclusive |
| Duplicate NOC (No Objection Certificate)/ No Due Certificate | INR 1,180/- per instance | Inclusive |
| Loan cancellation/Rebooking | INR 5,000/- + interest charges up to cancellation date | Exclusive |
| Charges for List of Document | INR 1,180/- per instance | Inclusive |
| Documents Retrieval / Issuance of Photocopies of Property Documents | INR 2,950/- per instance | Inclusive |
| Other Statutory / Mortgage creation charges e.g. Stamp duty, MODTD (Memorandum of Deposit of Title Deeds), RM (Registered Mortgage), etc. | At Actuals | As per actuals |
| Legal, Repossession & Incidental Charges | At Actuals | As per actuals |
| Property Swap Charges | INR 5,900/- per instance | Inclusive |
| NACH registration or activation | INR 30/- per instance | Inclusive |
| Field Collection Charges | INR 0/- per instance | Inclusive |
| Broken Period Interest (BPI) | BPI amount would be collected in the first installment. It shall not be deducted from disbursal. | Not specified in the table |
